Sembcorp had been consolidating for the early part of the week and testing the 4.15 breakout level. Notice the spike in volume on 25 March 2008. Someone knew something we didn't know obviously. It confirmed breakout on 28 March 2008 with close of 4.20. There is a gap from 4.71-4.60 and from 4.98-4.97. Necktie crossover of 25, 50 and 200 day moving averages corresponds to the HCR.
Immediate resistance is likely to be 4.35 (corresponds to 25 day moving average.
Targets 4.71 and 4.98.
Fundamentals wise, SCI has a new water treatment deal in China. Wonder how the market will react to that news.
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